SiTime Co. (NASDAQ:SITM) Stock Holdings Lessened by Jennison Associates LLC

Jennison Associates LLC cut its stake in shares of SiTime Co. (NASDAQ:SITM - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,426 shares of the company's stock after selling 1,804 shares during the quarter. Jennison Associates LLC owned approximately 1.10% of SiTime worth $55,011,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SITM. Barclays PLC grew its stake in SiTime by 80.7% during the 3rd quarter. Barclays PLC now owns 37,982 shares of the company's stock worth $6,515,000 after buying an additional 16,964 shares during the last quarter. LMR Partners LLP boosted its holdings in shares of SiTime by 705.0% during the third quarter. LMR Partners LLP now owns 80,500 shares of the company's stock valued at $13,807,000 after acquiring an additional 70,500 shares during the period. Creative Planning bought a new position in shares of SiTime during the third quarter worth about $842,000. FMR LLC increased its holdings in shares of SiTime by 1.1% in the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company's stock worth $595,113,000 after acquiring an additional 39,119 shares during the period. Finally, Swedbank AB lifted its position in SiTime by 21.7% in the 3rd quarter. Swedbank AB now owns 28,000 shares of the company's stock valued at $4,802,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 84.31% of the company's stock.

Insider Activity

In other news, insider Fariborz Assaderaghi sold 363 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $216.25, for a total transaction of $78,498.75. Following the completion of the sale, the insider now directly owns 104,322 shares of the company's stock, valued at $22,559,632.50. This trade represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raman Chitkara sold 500 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the sale, the director now directly owns 20,719 shares in the company, valued at $5,490,535. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,934 shares of company stock worth $5,206,598. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Raymond James reaffirmed an "outperform" rating and set a $250.00 price target (up previously from $215.00) on shares of SiTime in a report on Thursday. Needham & Company LLC lifted their target price on SiTime from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday. Stifel Nicolaus boosted their price target on SiTime from $250.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday. Roth Mkm raised their price target on SiTime from $205.00 to $230.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Barclays upped their price objective on shares of SiTime from $130.00 to $160.00 and gave the stock an "underweight" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $232.00.

SiTime Stock Up 2.0 %

NASDAQ SITM traded up $3.56 on Friday, reaching $179.88. 433,677 shares of the stock traded hands, compared to its average volume of 250,955. SiTime Co. has a 12 month low of $72.39 and a 12 month high of $268.18. The company has a market cap of $4.20 billion, a price-to-earnings ratio of -43.45 and a beta of 1.80. The firm's fifty day simple moving average is $227.99 and its 200 day simple moving average is $186.39.

SiTime (NASDAQ:SITM - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.14. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. The business had revenue of $57.70 million during the quarter, compared to analysts' expectations of $55.10 million. During the same quarter last year, the business posted ($0.81) earnings per share. The company's quarterly revenue was up 62.4% on a year-over-year basis. As a group, equities research analysts forecast that SiTime Co. will post -2.98 EPS for the current fiscal year.

SiTime Profile

SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.